SBA Loans and Business Litigation: When Exactly Do You Need a Lawyer?
When people default on a loan, especially an SBA loan, they panic and immediately want a lawyer to handle the situation. However, you must know when exactly you need a lawyer. To tell you the truth, a lawyer cannot do pretty much in case you default on a loan.
You have missed three months’ payments on the loan, and you received a call from the bank. Well, this is normal. When you miss payments continuously, the bank has to call you. You must review your financial situation at this time and see how fast you can make the payment.
So, when exactly do you need Maryland SBA lawyers?
You need an SBA lawyer in case you:
- Wish to file for bankruptcy
- Receive a legal complaint or summon and need to file an answer
- Must sign a legal document
- Must represent your case in court
- Need an SBA loan debt settlement
- Find that you are now a federal debtor
- Must negotiate loan modifications
SBA lawyers show an in-depth understanding of how SBA loans work, what the rules of SBA are, and what options are available to defaulters of loans. They can analyze your financial situation and help you choose an alternative.
It’s important that you hire an experienced attorney who knows how things go with SBA and in the courtroom.
Business and law
The world of business is not a simple black and white. It has shades of grey. That’s why you must have a competent business lawyer by your side right from the beginning. Issues can arise in a business at any stage.
- Class action
- Employment issues
- Breach of contract
- Real estate disputes
- Intellectual property disputes
- Shareholder oppression
- Land use and zoning disputes
- Insurance disputes
- Partnership disputes
- Product liability
- Commercial debt collection
- Breach of fiduciary duty
- Automotive industry disputes
- Tortious interference with business relationships or contracts
The above are only a few examples. An experienced attorney has the knack to deal with such situations and ensure your business is not much affected by them. It’s all about making the right legal moves in these cases.
Business litigation processes
Depending on your case, a reputable Maryland business litigation attorney stands by you and helps you in the various litigation processes, including:
- Administrative hearings
Laws of business litigation are complex. They involve heavy paperwork, investigation, gathering evidence, consultation with experts, communication with witnesses, filing answers to several motions, court proceedings, and more.
Many cases become complicated and may go on for years, usually those that involve hefty sums of money.
In Maryland, SBA lawyers or seasoned business lawyers are easily available. Whether you want legal help in settling your SBA loan or are facing business litigation, a lawyer can work in your best interest and pull you out of the legal dilemma.
Make sure you hire a lawyer who is experienced in handling SBA and business processes. You don’t want to make things more complicated for yourselves by hiring an amateur who is still learning the ropes, do you?